<em>My </em><em>advice</em><em> to the owners of ABC Company </em>concerning internal controls affecting the office manager would be as follows:
It is time to promote the office manager. His promotion would relieve him of the responsibilities he handles presently. Promoting him would also enable management to segregate his duties.
Secondly, after implementing the promotion and segregation of duties, management should implement a <em>compulsory annual </em><em>leave policy</em>. Having a company-wide leave policy bolsters internal controls by preventing and discovering suspicious fraudulent activities.
Thus, if the owners of ABC Company would buy these <em>pieces of </em><em>advice</em>, they would improve internal controls without offending the hardworking former office manager.
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Answer: $107,600 ordinary gain and $530,400 Section 1231 gain
Explanation:
Section 1231 property is when a business property that's either real or depreciable is held for more than one year. It should be noted that section 1231 gain which arises when the property is sold will be taxed at lower capital gains tax rate which is versus the ordinary income rate.
Therefore, Kuong should characterize the $638,000 gain recognized on sale as $107,600 ordinary gain and $530,400 Section 1231 gain.
The correct option is C.
Answer:
The correct answer is A. Using emails to communicate asynchronously is not a good idea for all of the reasons below except email threads are organized.
Explanation:
Communication via email is very efficient for exchanging non-instantaneous messages, that is, in those in which information is transmitted that does not require constant exchange, such as a chat or a phone call. Therefore, in the case of asynchronous communication, the exchange of emails can cause some part of the communication to be lost, or the messages may be misinterpreted because they are out of order. This provided that the thread of the messages is not ordered, otherwise this misunderstanding could be avoided.
The answer would be, "<span>Longer response times, sometimes six to eight weeks".</span>
Answer and Explanation:
The adjusting entry is given below:
On Dec 31,2017
Unearned Rent Revenue $25,000 ($75,000 × 4 months ÷ 12 months)
To Rent Revenue $25,000
(Being revenue earned is recorded)
Here unearned rent revenue is debited as it decreased the liability and credited the rent revenue as it increased the revenue